PS4 'a success right out of the gate,' sales to hit 12m by end of 2014 -- analyst

Wedbush Morgan has predicted that sales of PlayStation 4 will reach 12 million by the end of the year.

The findings come from a new report (via VG247) comprised by ubiquitous analyst Michael Pachter, along with fellow colleagues Nick McKay and Nick Citrin.

The report clearly gives the advantage to Sony’s next-generation home console, with PS4 finishing the year with a three million lead on its main rival, the Xbox One. Wii U, meanwhile, lags behind with 3 million units sold.

Wedbush attributes Wii U’s failings to the fact Nintendo has failed to embrace online multiplayer, while citing the PS4 has been a “phenomenal success right out of the gate.”

Why is PS4 predicted to outpace Xbox One by three million? According to the report, it’s because Microsoft’s machine is priced higher than Sony’s new console. Nonetheless, it adds that Xbox One has “achieved great success.”

Sony announced earlier this year that PS4 had moved 4.2 million units globally.